Dark Forest Capital Management LP Makes New Investment in ALLETE, Inc. (NYSE:ALE)

Dark Forest Capital Management LP purchased a new position in shares of ALLETE, Inc. (NYSE:ALE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,317 shares of the utilities provider's stock, valued at approximately $280,000.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in ALLETE by 16.5% in the 4th quarter. JPMorgan Chase & Co. now owns 352,124 shares of the utilities provider's stock worth $22,818,000 after acquiring an additional 49,993 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in ALLETE in the fourth quarter valued at about $380,000. HighTower Advisors LLC raised its holdings in shares of ALLETE by 15.7% during the fourth quarter. HighTower Advisors LLC now owns 6,311 shares of the utilities provider's stock worth $409,000 after purchasing an additional 855 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new position in ALLETE during the 4th quarter valued at about $5,378,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of ALLETE in the 4th quarter worth $671,000. Hedge funds and other institutional investors own 76.55% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of ALLETE in a report on Friday, January 10th. They issued a "hold" rating on the stock.

ALLETE Trading Up 0.4 %

Shares of ALE stock traded up $0.24 on Friday, reaching $65.49. 454,416 shares of the stock were exchanged, compared to its average volume of 379,443. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 0.69. ALLETE, Inc. has a one year low of $60.34 and a one year high of $65.99. The stock has a 50 day moving average price of $65.26 and a 200 day moving average price of $65.05. The stock has a market cap of $3.80 billion, a PE ratio of 21.13 and a beta of 0.69.

ALLETE (NYSE:ALE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a net margin of 11.72% and a return on equity of 5.97%.

ALLETE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.92 annualized dividend and a dividend yield of 4.46%. ALLETE's dividend payout ratio is currently 94.19%.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.